The Tendency of People to Discount Long-Term Values More Than

question 283

Multiple Choice

The tendency of people to discount long-term values more than they do near-term values-making many people "future blind"- is known in behavioral economics as

• A)myopia.
• B)anchoring.
• C)framing effects.
• D)time inconsistency.

Distinguish the factors affecting population growth rates including birthrates, death rates, and migration.

Explain the impact of social change on societies, including technological advancements and ecological transformations.

Identify the contributions of key theorists to the understanding of social structures and changes.

Understand the role of social theories in explaining population dynamics and social behaviors.

---

Definitions:

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, transforming manual labor-based economies into ones dominated by industry and machine manufacturing.

Wool Shortage

A period when the supply of wool falls significantly short of demand, leading to increased prices and potential economic impact.

Plantation Owners

Individuals who owned large agricultural estates, historically in the southern United States, where slavery was often utilized.

Republican Party

A major political party in the United States, historically associated with Abraham Lincoln, civil rights, and initially anti-slavery principles; its ideology has evolved over time.